The government will gradually wind down its growth-supporting stimulus over the next fiscal year beginning on April 1, but will still need to borrow a record amount from the market, a Reuters survey of economists showed.
The government will present its budget for the fiscal year 2010/11 on Feb. 26, with markets waiting for details on the stimulus, borrowing, and fiscal deficit as well as a roadmap for introducing a new Goods and Services Tax (GST).
Wednesday, February 17, 2010
BSE moves +ve - ends 16415 & Nifty ends green
Equities pulled back above psychological resistance levels following positive opening of European markets. All the sectoral indices were
in the green led by metals, banks and auto stocks.
Bombay Stock Exchange’s Sensex closed at 16415.91, up 189.23 points or 1.17 per cent. The index touched a high of 16480.49 and low of 16228.91.
National Stock Exchange’s Nifty ended at 4910.75, up 55 points or 1.13 per cent. The broader index hit a high of 4929.70 and low of 4857.60.
in the green led by metals, banks and auto stocks.
Bombay Stock Exchange’s Sensex closed at 16415.91, up 189.23 points or 1.17 per cent. The index touched a high of 16480.49 and low of 16228.91.
National Stock Exchange’s Nifty ended at 4910.75, up 55 points or 1.13 per cent. The broader index hit a high of 4929.70 and low of 4857.60.
Court can order CBI probe without a State's consent
The Supreme Court on Wednesday upheld the constitutional validity of courts' powers to order Central Bureau of Investigation (CBI) investigation without the prior permission of state governments with a provision that this should be used carefully and cautiously.
A five-judge Constitution Bench headed by Chief Justice K G Balakrishnan in a unanimous judgement said such powers have to be exercised cautiously by the apex court and the High Courts.
A five-judge Constitution Bench headed by Chief Justice K G Balakrishnan in a unanimous judgement said such powers have to be exercised cautiously by the apex court and the High Courts.
Science & Maths to be taught same across the country.
State boards across the country have agreed to implement a core curriculum in science and mathematics at the higher secondary level.
The decision taken by the Council of School Board of Education (COBSE) on Tuesday will be implemented from 2011-12.
The apex body for all school boards and councils also agreed to work towards a common entrance examination for professional courses by 2013. With concerns about stress faced by students mounting, the core curriculum is expected to be implemented smoothly. Putting in place a common entrance examination for courses like engineering, medicine may prove to be difficult, as it would mean doing away with entrance exams like IIT-JEE. Both decision would be referred to the Central Advisory Board on Education for approval.
The decision taken by the Council of School Board of Education (COBSE) on Tuesday will be implemented from 2011-12.
The apex body for all school boards and councils also agreed to work towards a common entrance examination for professional courses by 2013. With concerns about stress faced by students mounting, the core curriculum is expected to be implemented smoothly. Putting in place a common entrance examination for courses like engineering, medicine may prove to be difficult, as it would mean doing away with entrance exams like IIT-JEE. Both decision would be referred to the Central Advisory Board on Education for approval.
Govt extends hands to Bharti for Zain deal
The government offered all help possible to enable private telecom player Bharti Airtel see through the acquisition of Kuwait-based Zain's telecom operations in Africa.
"The Bharti management has not approached us yet. If they do, I will be very happy to help them because when they go out, it's not the company alone but they are our flag-bearers. We will do the utmost of what we can," Corporate Affairs Minister Salman Khurshid said.
"The Bharti management has not approached us yet. If they do, I will be very happy to help them because when they go out, it's not the company alone but they are our flag-bearers. We will do the utmost of what we can," Corporate Affairs Minister Salman Khurshid said.
JK Lakshmi cement plans to expand its presence to cope with infra industry needs
JK Lakshmi Cement is considering plans to set up a new plant in Gujarat with an investment of Rs 1,000 crore over the next 3-4 years to meet rising cement demand from the infrastructure sector, a senior company executive said.
The proposed two million tonne unit will boost its existing operations, which includes a cement plant in Sirohi (Rajasthan), besides a grinding unit near Ahmedabad, with total annual cement making capacity of 4.7 million tonne. The company is also in the process of setting up a second 0.6-million tonne cement grinding unit in Haryana. In addition, JK Lakshmi Cement had previously announced plans to set up a 2.7-million tonne cement unit in Chhattisgarh by October 2012, which would take its annual cement-producing capacity to 8 million tonne.
The proposed two million tonne unit will boost its existing operations, which includes a cement plant in Sirohi (Rajasthan), besides a grinding unit near Ahmedabad, with total annual cement making capacity of 4.7 million tonne. The company is also in the process of setting up a second 0.6-million tonne cement grinding unit in Haryana. In addition, JK Lakshmi Cement had previously announced plans to set up a 2.7-million tonne cement unit in Chhattisgarh by October 2012, which would take its annual cement-producing capacity to 8 million tonne.
Wipro & CAE Inc joins to enter defence sector.
Wipro on Wednesday announced it has signed an agreement with CAE Inc to jointly address the growing simulation-based training,operations, maintenance and training support services opportunities for India's defence forces.
Wipro and CAE would collaborate to provide training systems integration and simulation-based solutions for areas like war gaming, C4ISR and a range of defence platforms expected to be acquired by India's defence forces, the Bangalore-headquartered Wipro said in a statement.
Wipro and CAE would collaborate to provide training systems integration and simulation-based solutions for areas like war gaming, C4ISR and a range of defence platforms expected to be acquired by India's defence forces, the Bangalore-headquartered Wipro said in a statement.
Suzuki to launch its sedan in India this yr end
Japanese car maker Suzuki's Kizashi sedan will be launched in India shortly, according to Gene Brown, vice-president of American Suzuki Motor Corp.
He was speaking at the Chicago Auto Show show in the US where he said that the company had plans to launch Kizashi in the Indian market.
He was speaking at the Chicago Auto Show show in the US where he said that the company had plans to launch Kizashi in the Indian market.
London Mayor to reconsider LDA's decision to close its offices in India
After top British business leaders criticised the London Development Authority (LDA) for closing its offices in Delhi and Mumbai as a
Visa cost-cutting measure, the London mayor's office is reconsidering the decision.
The London mayor's economic development agency has revealed that it is reviewing its presence in India after it emerged that two representatives working in the country had left and have not been replaced.
Visa cost-cutting measure, the London mayor's office is reconsidering the decision.
The London mayor's economic development agency has revealed that it is reviewing its presence in India after it emerged that two representatives working in the country had left and have not been replaced.
$4million fraud in Wipro
A Wipro employee embezzled crores of rupees over the past three years, sending India’s third-largest software exporter Wipro scrambling to tighten internal controls in the finance division where the fraud took place.
The employee had been working with the company for the past three years in the ‘controllership’ division within the finance department. This cell is responsible for keeping the company’s financial books and also has powers to authorise payments whenever needed. The employee is believed to have embezzled about $4 million by stealing a password and transferring money from Wipro’s account at a bank.
The employee had been working with the company for the past three years in the ‘controllership’ division within the finance department. This cell is responsible for keeping the company’s financial books and also has powers to authorise payments whenever needed. The employee is believed to have embezzled about $4 million by stealing a password and transferring money from Wipro’s account at a bank.
Leader in online gaming opens its first office in Banglore
Zynga, the largest social game provider announced the opening of its first office outside the United States in Bangalore, where it
would hire 100 techies for game development and large-scale web infrastructure.
The India operation would focus on game development and large-scale infrastructure to support delivery of Zynga games to millions of players ever day, senior company executives told reporters here.
Zynga India would add to its current games studios in San Francisco, Los Angeles and Baltimore.
"Social gaming combines the best of web technical talent with game storytelling talent", Zynga's Chief Technology Officer Cadir Lee said. "India offers some of the most sophisticated and rich technical talent".
Country Manager of Zynga India, Shan Kadavil said the company is looking to recruit about 100 computer scientists and engineers who are experienced in building scalable infrastructure to handle more than 70 million daily active users.
"Our focus will be on building the next generation infrastructure that can handle the tremendous growth of Zynga games", he said.
San Franscisco-headquartered Zynga has over 235 million monthly active users playing its games, including "Farmville", "Zynga Poker", "Mafia Wars", "YoVille", "Cafe World", "FishVille" and "PetVille", which are available on Facebook, MySpace, MSN Games, Tagged, Yahoo! and the iPhone.
would hire 100 techies for game development and large-scale web infrastructure.
The India operation would focus on game development and large-scale infrastructure to support delivery of Zynga games to millions of players ever day, senior company executives told reporters here.
Zynga India would add to its current games studios in San Francisco, Los Angeles and Baltimore.
"Social gaming combines the best of web technical talent with game storytelling talent", Zynga's Chief Technology Officer Cadir Lee said. "India offers some of the most sophisticated and rich technical talent".
Country Manager of Zynga India, Shan Kadavil said the company is looking to recruit about 100 computer scientists and engineers who are experienced in building scalable infrastructure to handle more than 70 million daily active users.
"Our focus will be on building the next generation infrastructure that can handle the tremendous growth of Zynga games", he said.
San Franscisco-headquartered Zynga has over 235 million monthly active users playing its games, including "Farmville", "Zynga Poker", "Mafia Wars", "YoVille", "Cafe World", "FishVille" and "PetVille", which are available on Facebook, MySpace, MSN Games, Tagged, Yahoo! and the iPhone.
Subscribe to:
Posts (Atom)
